NEC, HP and others to create B2B venture in Japan
The two companies, along with Ariba and Sumitomo, are planning a Web site for business-to-business e-commerce.
A unit of Hewlett-Packard, Sumitomo, NEC and
Ariba said today they plan to invest $7.9 million (850 million yen) in a Japanese e-marketplace for office supplies, books and stationery.
Software maker Ariba said the new company, which has yet to be named, is expected to handle about $37 million in e-commerce transactions in its first fiscal year.
NEC and Sumitomo will hold about 80 percent equity in the company they said would begin operations in November, while Ariba and Hewlett-Packard Japan will take a combined stake of about 20 percent.
The partners anticipate revenue of $1.4 million in the first year, an amount that should increase to 14 times as much in fiscal 2002, Ariba said.